Delay of Subrogation. Notwithstanding any payment or payments made by the Guarantor hereunder, or any set-off or application of funds of the Guarantor by the Administrative Agent or any Lender, the Guarantor shall not be entitled to be subrogated to any of the rights of the Administrative Agent or any Lender against the Borrower or against any collateral security or guarantee or right of offset held by the Administrative Agent or any Lender for the payment of the Obligations, nor shall the Guarantor seek or be entitled to seek any contribution or reimbursement from the Borrower in respect of payments made by the Guarantor hereunder, until all amounts owing to the Administrative Agent and the Lenders by the Borrower on account of the Obligations are paid in full and the Commitments are terminated. If any amount shall be paid to the Guarantor on account of such subrogation rights at any time when all of the Obligations shall not have been paid in full, such amount shall be held by the Guarantor in trust for the Administrative Agent and the Lenders, segregated from other funds of the Guarantor, and shall, forthwith upon receipt by the Guarantor, be turned over to the Administrative Agent in the exact form received by the Guarantor (duly indorsed by the Guarantor to the Administrative Agent, if required) to be applied against the Obligations, whether matured or unmatured, in such order as the Administrative Agent may determine. The provisions of this Section shall be effective notwithstanding the termination of this Agreement and the payment in full of the Obligations and the termination of the Commitments.
Delay of Subrogation. Until the Guaranteed Obligations have been paid in full, Whirlpool shall not exercise any right of subrogation with respect to payments made by Whirlpool pursuant to this guaranty.
Delay of Subrogation. Notwithstanding any payment made by or on behalf of the Parent under this Section 13, the Parent shall not exercise any right of subrogation to any right of the Administrative Agent or any Lender until such time as the Administrative Agent and the Lenders shall have received payment in cash of the full amount of all Guaranteed Obligations, the expiration or termination of all Letters of Credit and the termination of the Commitments.
Delay of Subrogation. Notwithstanding any payment made by or for the account of Guarantor pursuant to this Article XIII, Guarantor shall not be subrogated to any right of the Administrative Agent or any Lender, or have any right to obtain reimbursement from Borrower, until such time as the Administrative Agent and each Lender shall have received final payment in cash of the full amount of the Guaranteed Obligations.
Delay of Subrogation. Notwithstanding any payment made by or for the account of any Guarantor pursuant to this Section 18, no Guarantor shall be subrogated to any right of any holder of Notes, or have any right to obtain reimbursement from the Company, until such time as each holder of Notes shall have received final payment in cash of the full amount of the Guaranteed Obligations.
Delay of Subrogation. Notwithstanding any payment made by or for the account of any of the undersigned pursuant to this Guaranty, the undersigned shall not be subrogated to any right of any Noteholder until such time as this Guaranty shall have been discontinued as to all of the undersigned and the Noteholders shall have received payment in cash of the full amount of all Obligations.
Delay of Subrogation. Notwithstanding any payment made by or for the account of RMF pursuant to this Agreement, RMF shall not be subrogated to any right of the Bank or Brunswick against the Company until such time as all Bank Liabilities have been paid in full in cash and, if applicable, Brunswick has received payment in full in cash of all amounts paid by Brunswick under the Brunswick Guaranty and/or the Contingent Purchase Agreement together with, in the case of any payment under the Brunswick Guaranty, interest thereon (from and including the date of payment by Brunswick to but excluding the date Brunswick is reimbursed therefor) at the same rate per annum as would have been applicable to the Bank Liabilities paid by Brunswick (or, in the absence of such a rate, at the Prime Rate plus 3%).
Delay of Subrogation. Each of the Lenders agrees that it shall not exercise any right of subrogation to any right of the Administrative Agent or any Bank arising as a result of any payment made by such Lender hereunder until such time as the Borrower Obligations (other than obligations with respect to the Bank Note) have been paid in full and all Commitments under and as defined in the Credit Agreement have terminated.
Delay of Subrogation. Notwithstanding any payment made by or for the account of Parent pursuant to this Article XII, Parent shall not be subrogated to any right of the Administrative Agent or any Lender Party until such time as the Administrative Agent and each Lender shall have received final payment in cash of the full amount of the Guaranteed Obligations.
Delay of Subrogation. Until BREED's obligations under this Assumption Letter have been paid in full and terminated, BREED shall not exercise any right of subrogation with respect to payments made by BREED pursuant to this Assumption Letter.
